Cattle futures were mixed Wednesday. Feeder Cattle were likely supported by sliding Corn futures, while Live Cattle could have been pressured in part by squeamishness about Friday’s monthly Cattle on Feed report. Odds favor it showing increased feedlot placements year over year, given the likelihood of drought-driven early placements, as well as the fact it will be the first year-over-year comparison without Mexican feeder cattle imports both years. Cargill’s initiated lockout of union workers at its beef packing plant in Ft. Morgan, Colo., also added uncertinaty.
Toward the close, Live Cattle futures were an average of $1.84 lower. Feeder Cattle futures were an average of $1.23 higher.
Negotiated cash fed cattle trade ranged from inactive on light demand in the Texas Panhandle to limited on moderate demand elsewhere through Wednesday afternoon, according to the Agricultural Marketing Service.
Although too few to tend, there were some early live FOB trades at $260/cwt. in Kansas and at $265 in the western Corn Belt. There were also some early dressed delivered trades at $415 in Nebraska and the western Corn Belt.
Last week, FOB live prices were $260/cwt. in the Southern Plains and $260-$265 in the North. Dressed delivered prices were $410-$415 in Nebraska and mostly $410 in the western Corn Belt.
Choice boxed beef cutout value was $2.13 lower Wednesday afternoon at $393.62/cwt. Select was $2.45 lower at $391.13.
Grain and Soybean futures were lower Wednesday with lower Crude Oil prices and confusion about the recently announced trade deal with China announced by the White House.
Toward the close, and through near Mar contracts, Kansas City HRW Wheat futures were 3¢ to 5¢ lower. Corn futures were 7¢ to 9¢ lower. Soybean futures were 8¢ to 12¢ lower.
******************************
Major U.S. financial indices closed higher Wednesday, buoyed by lower Crude Oil prices and lower treasury yield rates.
The Dow Jones Industrial Average closed 645 points higher. The S&P 500 closed 79 points higher. The NASDAQ was up 399 points.
Through mid-afternoon, West Texas Intermediate Crude Oil futures (CME) were $3.10 to $5.65 lower through the front six contracts.
******************************
The U.S. Meat Export Federation (USMEF) provides perspective on how U.S. red meat exports also add value to domestic corn and soybean producers.
Nationally, U.S. beef and pork exports accounted for $2.18 billion in market value to corn producers in 2025, $375 million to distiller’s dried grains with solubles (DDGS), and $1 billion to soybean producers, according to an independent study conducted by the Juday Group. U.S. beef and pork exports contributed an estimated total economic impact of 13.5% per bushel to the value of corn and 10.3% per bushel to soybeans in 2025.
“Red meat exports bring significant value to corn and soybean producers by driving demand for feed,” says Dave Bruntz, USMEF Chair-Elect, who raises corn, soybeans and cattle in south-central Nebraska. “This study shows that red meat exports accounted for more than 500 million bushels of corn usage and nearly 100 million bushels of soybeans in 2025.”
Corn and soybean growers support the promotion of U.S. pork, beef and lamb by investing a portion of their checkoff dollars in market development efforts conducted by USMEF.
“We initiate this study every year because it quantifies the value that beef and pork exports bring to the red meat supply chain,” says John Hinners, USMEF Senior vice president. “This added value is why a diverse range of ag industry sectors work together through USMEF to build global demand for U.S. red meat.”